Kosovo has decided to permanently abandon the use of the Serbian currency

Kosovo has decided to permanently abandon the use of the Serbian currency, the dinar, and fully switch to the euro, starting February 1.

This announcement follows a decision by the Central Bank of Kosovo on January 17, according to information reported by Yevropeiska Pravda.

At a meeting on December 27, Kosovo's banking regulator approved a regulation on cash transactions, according to which cash and payment transactions in the country can only be made in euros.

"Other currencies other than the euro may be used in Kosovo only as valuables for storage in physical form or in bank accounts in currencies other than the euro, for international payments in currencies other than the euro, and for foreign exchange transactions," the official document states.

In addition, currency exchange in Kosovo is possible only through institutions licensed by the Central Bank and providing such financial services.

This decision also grants the bank the exclusive right to import and export currency, which can only be granted to licensed financial services institutions.

It should be noted that in 2002, Kosovo introduced the euro unilaterally, although it is not part of the eurozone or the European Union. However, the Serbian population of Kosovo living in its northern municipalities continues to use Serbian dinars.